Three trends that are changing the Swiss retail sector

TREND STUDY Visa published its "Future of Retail" study on February 17. The study covers the key trends among consumers, such as shopping on various channels, the importance of social media and the relevance of smartphones. Retailers should take these into account in their own development.The "Future of Retail" study identifies the following trends: 1. personalized shopping experience at all touchpointsRecommendations tailored to the customer are expected online just as much as in direct, personal consultations. Offers and bonus systems must be individually tailored to the needs and preferences of consumers.2. the demand for social shopping experiences is increasingToday, the shopping experience begins with a photo posted on social media showcasing a new product line, which is then discussed with friends or evaluated in review comments, and ends with a photo shared on Instagram of the newly purchased item.A key insight for retailers is the development in purchasing behavior from "buy now" to "wait/think/consult" - consumers consult with friends about individual products or compare prices before making a purchase decision.3. mobile technologies have the potential to close the gap between online and offline retailPayment technologies integrate card products into smartphones and thus improve the shopping experience. Mobile payment terminals, which serve as sales assistants and significantly increase the flexibility of shopping on the sales floor, are another way of making the future of retail tangible for consumers.